Sensor Fusion Market by Sensors Type (Accelerometer, Capacitive Sensor, Pressure Sensors, Temperature Sensors, Touch Sensors, Radar Sensors, and Image Sensors), Technology (MEMS and Non-MEMS), Application (Consumer Electronics, Automotive, Medical, and Military): Global Market Size Estimates and Forecast (2022-2030)

BMIRE00026207 | Pages: 100 | Electronics and Semiconductor | Sep 2022 | Type: Global | Status: Published

The sensor fusion market crossed US$ 4.50 billion mark in 2022 and is expected to hit US$ 20 billion by 2030, recording a CAGR of 20.5% during the forecast period.

Upward trend in the Adoption of Portable and Electronic Devices is Expanding Massively

The rising demand for sensor fusion techniques in consumer electronics and automotive applications is fueling market growth. The demand for sensor fusion is rising in smartphones, laptops, and tablets with advanced features and integrated sensors. In addition, the growing adoption of high-end and luxury cars is raising the demand for sensor fusion in the market. Also, the growing demand of sensors in the medical industry is further boosting the market growth.

The non-MEMS segment is expected to pace up owing to the increasing demand for image and radar-based products to improve vehicle safety systems. Further, the other segment, MEMS is also expected to gain traction during the forecasted year.

Within the report, the sensor fusion market is segmented into sensor type, technology, application, and geography. By sensor type, the sensor fusion market is further segmented into accelerometer, capacitive sensor, pressure sensors, temperature sensors, touch sensors, radar sensors, and image sensors. On the basis of technology, the sensor fusion market is bifurcated into MEMS and non-MEMS. By application, the sensor fusion market is categorized into consumer electronics, automotive, medical, and military. Geographically, the sensor fusion market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

The growing trend of miniaturization in the electronics sector will propel the growth of market.

Sensor fusion is the combination of sensors to get more accurate and reliable information. The data from multiple sensors reduces uncertainty and helps produce more reliable information. Thus, helping in building a more accurate model for the system to navigate properly. The technique is used in cars, factories, smartphones, and other devices. It has wide applications in the automotive industry. Vehicles take the input from cameras, radar, and LiDAR sensors to form a single model of its surrounding environment increasing the demand for different sensors in automobiles.

The growing demand of technique in the consumer electronics and automotive sector is one of the major factors accelerating the market growth.

The sensor fusion technique is used in various industries like consumer electronics, automotive, medical, and military. Within these industries, the consumer electronics industry is one such industry, wherein its use is growing tremendously due to its growing use in smartphones, tablets and other electronic devices. The growing demand for autonomous vehicles is further boosting the sensor fusion market growth. Other applications, such as medical and military are also boosting the growth of the sensor fusion market.

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Recent strategic developments in the sensor fusion market

The sensor fusion market has undergone several significant developments, and a few of these have been mentioned below:

  • In January 2021, NXP Semiconductors announced the launch of BlueBox 3.0, an expanded version of the Automotive High-Performance Compute (AHPC) development platform. The new BlueBox 3.0 offers a flexible way to address differentiation, safe L2+ volume production, and the associated vehicle networking architectures.
  • In August 2022, Renesas Electronics Corporation announced that they have entered into an agreement to acquire Steradian Semiconductors Private Limited. The company will boost its automotive and industrial sensing solution offerings with this acquisition.  

The sensor fusion market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. NXP Semiconductors N.V., Kionix Inc., Robert Bosch GmbH, Cummins Inc., Renesas Electronic Corporation, MEMSIC Inc., Analog Device Inc., Senion, Microchip Technologies Inc., and Baselabs are among the prominent players operating in the sensor fusion market.

Target audience for the report:

  • Sensors providers
  • Sensor related raw material and component provider
  • Sensors-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Sensors distributors and sales firms
  • End users of Sensors
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the sensor fusion market has been segmented on the basis of:

  • Sensors Type:
    • Accelerometer
    • Capacitive Sensor
    • Pressure Sensors
    • Temperature Sensors
    • Touch Sensors
    • Radar Sensors
    • Image Sensors
  • Technology:
    • MEMS
    • Non-MEMS
  • Applications:
    • Consumer Electronics
    • Automotive
    • Medical
    • Military
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • NXP Semiconductors N.V.
    • Kionix Inc.
    • Robert Bosch GmbH
    • Cummins Inc.
    • Renesas Electronic Corporation

Companies profiled

- NXP Semiconductors N.V.

- Kionix Inc.

- Robert Bosch GmbH

- Cummins Inc.

- Renesas Electronic Corporation

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